Total revenues are expected to be in the range from $72.0 million to $80.0 million,
Non-GAAP loss from operations is expected to be in the range of $20 to $24 million,
Non-GAAP net loss per diluted share is expected to be in the range of $0.80 to $0.96 based upon weighted average shares outstanding of 25 million shares.
Let me guess. They booked multi-year sales this year leaving less to book next year. So they have to keep these staff that appear to be doing nothing but actually have to do the work that was already booked last year. The former VP for Sales disagrees and quits. Just my guess but it's the most common way of beefing up revenue in the current year. So next year will be a drought unless this new VP of sales magically generates sales that were not planned. Who is the external auditor for this company? Do you know?
On a hunch, I looked up their last 10Q to find who their external auditor. Surprise, surprise:
"As a newly public company, we have and intend to continue to take advantage of certain exemptions from various reporting requirements that are applicable to many public companies that are not emerging growth companies, including not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved by our stockholders."
Or in other word, they have not issued an audited financial statement at all. Wait for the auditors to weigh in on management's accounting practices.